Our founder and Managing Director, Phil Whelan, reflects on the year.
1. What makes MM Flowers special?
There are four ingredients that make MM Flowers special, and they have been part of the business since I set it up in 2006.
Our culture of permanent disruption. We consistently agitate our business model to improve the experience of customers when they gift flowers whether to themselves or someone else. We are able to do this because we have the luxury of a global perspective across breeding, cultivating, R&D and retail.
Our vertically integrated agribusiness model allows us to do this. This enables us to flex and influence where we need it do, and gives us a global perspective across key disciplines with a multi-channel, multi-market view.
Our people are integral to our success. We’re proud of the wide array of skills and capabilities that we have across our Group. We integrate industry leading knowledge and experience with a wide range of skills and expertise from outside the industry; this blend enables us to shape, challenge and disrupt our thinking.
Our pace and dynamism. Our owner allow us the freedom to operate within our model to deliver at pace for our customers. For anyone that knows me, dynamism is not just a company value, but one I very much live by!
2. How’s business performing? What are your highlights from FY23?
2023 was a successful year for us, having met our growth objectives and key financial measures. We achieved 21% turnover growth and extended our UK market leadership. We have also launched our gifting business and expanded in Europe.
In addition to successful financial and trading performance, I’m proud that the business has also accelerated its commitment to R&D, ESG, and automation of our manufacturing activities. We also re-launched our purpose and values, which is an important milestone in our People and Culture agenda.
3. What are the greatest challenges and opportunities the cut-flower industry is facing?
The industry is facing some interesting challenges, largely around how we ensure that we effectively manage the environmental impacts of our supply chain and our packaging for a discretionary product, whilst interpreting a fair wage framework.
Within manufacturing, embedding a value added workforce that is complimented by automation and standardised activities will be key to maintaining quality, consistency and value.
As in all farming businesses, we continue to evaluate the impact of a more volatile climate and assess its impact on supply chain resilience.
Addressing these challenges via our R&D business, strategic sourcing and careful interpretation of new consumer trends will enable us to continue to lead in satisfying the undiminished demand in the UK and European flower market.
4. What’s your business strategy over the next three years?
To continue to build our core customer relationships through the continuous renewal of our business model to convert the sector’s challenges into opportunities.
By 2027 we hope to have designed a multi-channel, multi-market proposition that has evolved from flowers to gifting, fully utilising our investment in infrastructure and automation, whilst ensuring that we continue to deliver innovative products that meet our environmental and ethical ambitions.
5. On a personal level, what drives you?
What drives me is building a stable, trusted and innovative business that our employees are proud of and this customer respect. And - importantly, something that can be sustained long beyond my tenure!
6. And finally, as we love flowers, we can’t not ask what your favourite flower is….
Tulips. They are nice and simple. They have a long and rich history and after 500 years are still delighting modern customers!
